In multifamily, the 55+ condo HMI increased 16 points to 35, the highest 4th quarter reading since the index began in 2008. Present sales spiked 20 points to 37, anticipated sales for the coming six months rose 15 points to 40, and traffic of prospects increased nine points to 30. MHProNews.com follows this index monthly, and understands these numbers are significantly higher than most all of the reports.
The 55+ rental indexes also notched strong gains in the third quarter. Present production increased 12 points to 43, expected future production rose 12 points to 46, current demand for existing units increased 16 points to 54 and future demand increased 16 points to 55. Says NAHB’s David Crowe: “The 55+ segment of the housing market contains more discretionary purchases so as expected it has taken longer for that segment to join the housing recovery.”
(Image credit: National Association of Home Builders)